Mr. Michael Rowley reports

STILLWATER CLOSES ADDITIONAL FLOW-THROUGH PRIVATE PLACEMENT FOR THE KLUANE CRITICAL MINERALS PROJECT IN YUKON, CANADA

Subject to the approval of the TSX Venture Exchange, Stillwater Critical Minerals Corp. has closed a second non-brokered private placement financing for additional proceeds of $500,001, through the issuance of 3,333,340 flow-through units at a price of 15 cents per unit. Each unit consists of one flow-through share of the company and one-half of one transferable non-flow-through warrant, with each full warrant allowing the holder to purchase one common share of the company at a price of 22.5 cents per share for 24 months. Warrants shall contain a customary acceleration provision, which shall be effective if the volume weighted average trading price of the common shares on the TSX-V is greater than 34 cents for a period of 20 consecutive trading days.

Michael Rowley, president and chief executive officer, commented: "We are pleased with the additional interest shown in advancing our Kluane critical minerals project. As announced previously, work is expected to include ground geological programs and potential geophysical surveys, in addition to data compilation, to drive the selection of drill targets across this district-scale asset ahead of upcoming campaigns. We look forward to further announcements in the near term, in particular from our flagship Stillwater West project as we work with Glencore via the technical committee to finalize our exploration and resource expansion drill plan for 2025. Investors are invited to meet the team including Dr. Danie Grobler at booth 2724 at the PDAC in Toronto March 2 to March 5, or at subsequent shows as listed below."

The company intends to use the gross proceeds from the sale of the flow-through shares to incur exploration expenses that are eligible Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures as such terms are defined in the Income Tax Act (Canada).

All securities issued pursuant to the placement will be subject to a four-month hold period from the date of issuance in accordance with applicable securities laws and the policies of the TSX-V.

About the Kluane critical minerals project

At 260 square kilometres, Stillwater's Kluane project represents the largest land position in the Kluane ultramafic belt, a mafic-ultramafic system that extends from Northern British Columbia through the Yukon to central Alaska, and hosts multiple platinum-group-element-nickel-copper deposits and occurrences. Located in Canada's Yukon Territory, the Kluane PGE-Ni-Cu (platinum group elements-nickel-copper) project is on trend with the Wellgreen deposit, a past-producing mine, now being advanced by Nickel Creek Platinum.

PGE-Ni-Cu mineralization in the Kluane belt typically occurs as magmatic disseminated to massive sulphides associated with mafic to ultramafic intrusive bodies. The most advanced targets on the Kluane project are on the Ellen property, where exploration has identified significant massive sulphide mineralization from drilling and trenching. Drilling includes 17 drill holes from 1954 to 1995 with 12 holes returning significant sulphide mineralization including 3.15 per cent Cu over 5.2 metres in MC66-1, 1.64 per cent Cu over 10.4 metres in MC66-2, 1.76 per cent Cu over 5.5 metres in hole 95-1, and a 2.13-metre intersection grading 1.96 per cent Cu and 2,098 parts per billion gold in hole 95-3. Trenching returned values of up to 7.2 per cent Cu with one g/t Au and one g/t palladium. Strong copper plus gold soil geochemical signatures have been identified on the property that are coincident with a large geophysical conductor nearly one kilometre in length.

The Spy claim block also includes some more advanced targets, including the Spy sill, which has been traced for over eight kilometres with widths of 75 metres to 100 metres at surface. Massive sulphide mineralization at the Spy target have assayed up to 5.5 g/t 3E (3.1 g/t platinum, 1.4 g/t Pd, 1.0 g/t Au) with 3.1 per cent Ni, 2.8 per cent Cu and 0.2 per cent cobalt, and historic grab sample results of up to 90.7 g/t 3E (75.8 g/t Pt, 7.9 g/t Pd, 7.0 g/t Au) with 2.6 per cent Ni, 10.5 per cent Cu and 0.09 per cent Co reported from footwall siltstones.

Trenches from the Ultra block yielded up to 19.5 g/t 3E (5.5 g/t Pt, 13.5 g/t Pd, 0.5 g/t Au), with 4.1 per cent Cu and 1.7 per cent Ni from an ultramafic sill (4). Exploration on Ultra since 2017 has included ground-based geophysics, UAV (unmanned aerial vehicle) imagery collection, and soil and rock sampling programs, which successfully advanced multiple targets for follow-up work as the company systematically moves several zones to drill-ready status.

Upcoming events

Stillwater's president and CEO, Michael Rowley, will be available at the following events in 2025, in addition to other events to be added as the company rolls out its marketing plans over the coming year:

• Prospectors and Developers Association of Canada Conference, booth 2724 (PDAC) -- Toronto, Ont., Canada, March 2 to March 5, 2025;
• Global Commodity Expo Florida -- Fort Lauderdale, Fla., United States, May 11 to May 13, 2025;
• Global Commodity Expo Atlanta -- Atlanta, Georgia, United States, May 14 to May 16, 2025;
• The Mining Investment Event of the North -- Quebec City, Que., Canada, June 3 to June 5, 2025;
• Precious Metals Summit -- Beaver Creek, Colo., Sept. 9 to Sept. 12, 2025;
• Precious Metals Summit -- Zurich, Switzerland, Nov. 10 to Nov. 11, 2025.

About Stillwater Critical Minerals Corp.

Stillwater Critical Minerals is a mineral exploration company focused on its flagship Stillwater West Ni-PGE-Cu-Co plus Au (nickel-platinum group elements-copper-cobalt plus gold) project in the iconic and famously productive Stillwater mining district in Montana, United States. With the addition of two renowned Bushveld and Platreef geologists to the team and strategic investments by Glencore PLC, the company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper and chromium, and the continuing production of platinum group, nickel and other metals by neighboring Sibanye-Stillwater. An expanded National Instrument 43-101 mineral resource estimate, released January, 2023, positions Stillwater West with the largest nickel resource in an active United States mining district as part of a compelling suite of nine minerals now listed as critical in the U.S.

Stillwater also holds a 49-per-cent interest in the high-grade Drayton-Black Lake gold project adjacent to Nexgold Mining's development-stage Goliath gold complex in Northwestern Ontario, currently under an earn-in agreement with Heritage Mining, and the Kluane PGE-Ni-Cu-Co critical minerals project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada's Yukon Territory. The company also holds the Duke Island Cu-Ni-PGE property in Alaska and maintains a back-in right on the high-grade past-producing Yankee-Dundee in British Columbia, following its sale in 2013.

Quality control and quality assurance

Debbie James, PGeo, is the qualified person for the purposes of National Instrument 43-101, and she has reviewed and approved the technical disclosure contained in this news release. Ms. James is the project manager for the Kluane area, and is not independent of the company because she has received employment income from the company and holds stock in the company.

Historic samples were collected by reputable operators, using standard quality assurance/quality control procedures and practices current at the time of collection. They are considered reliable. Samples are not necessarily representative of all the mineralization hosted in the area.

We seek Safe Harbor.